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Jan 18, 2013
01/13
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that's as all americans adjust to smaller paychecks due to higher taxes. >> the hit toncom are going to be a first quarter event for the most part, so much of that effect will be felt in the first quarter and it gradually dissipate in our view as the year wears on. >> reporter: so, what will it take for the economy to return to much stronger footing. many say the answer lies with the housing market, which needs to built a stronger foundation. that brings us back to lenane and one of her listings. it's a five bedroom condo with river views. it can be yours for $4.75 million. >> to be able to get 3,100 square feet in manhattan is a real rarity, especially the bedroom count because people are really having families and staying in the city. and, this apartment really speaks to that. so that's why we've had such great traffic. >> reporter: traffic maybe, but will it sell? perhaps if the economy continues to show fresh signs of life. suzanne pratt, "n.b.r.," new york. >> tom: disappointing. that describes the last quarterly financial performances from two of the country's biggest banks, ba
that's as all americans adjust to smaller paychecks due to higher taxes. >> the hit toncom are going to be a first quarter event for the most part, so much of that effect will be felt in the first quarter and it gradually dissipate in our view as the year wears on. >> reporter: so, what will it take for the economy to return to much stronger footing. many say the answer lies with the housing market, which needs to built a stronger foundation. that brings us back to lenane and one of...
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Jan 16, 2013
01/13
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india is -- they can't get out of their own way in terms of december sprattly kneed economic reform, tax implication, dealing with corruption, opening foreign direct investment ashes lot of indian entrepreneurs are increasingly looking where to invest outside of the country it is not blowing up but underperforming a, underperforming a. >> rose: the political system is not working. >> it is not working well. >> rose: and finally south africa. >> what a sad thing nell son mandela is hot doi wel one ofhe greatt men we have seen in the past century, 9 94 years old is not able to oversee improvement of his government, .. the turn -- >> rose: no political talent in south africa. > very little talent, you see the talent going away, the best who just left the party, by far, you and industry met him on many occasions and he is gone, he bolted, rama know/foe stow one of the wealthiest businessmen, number 2, he is pretty incapable, it is really a turn toward the lowest the denominator of politics, and it is a hell of a lot of populism, south africa is not performing so you look at the brics and bra
india is -- they can't get out of their own way in terms of december sprattly kneed economic reform, tax implication, dealing with corruption, opening foreign direct investment ashes lot of indian entrepreneurs are increasingly looking where to invest outside of the country it is not blowing up but underperforming a, underperforming a. >> rose: the political system is not working. >> it is not working well. >> rose: and finally south africa. >> what a sad thing nell son...
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Jan 14, 2013
01/13
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sales tax, correct? >> well, it's not quite. progressive is important to me, i don't want people to pay taxes if they have $20,000 a year worth of income. but at 30,000, i might like for people to pay $1. just $1. so they have a legitimate claim for saying, i'm part of the society, and i don't pay a lot, but i do pay something. everybody participates, and there's no game playing, it's a very efficient way to raise revenue. right now, it costs us $431 billion a year to administer the tax system we have, and the tax gap, the money we're not collecting that's theoretically owed is $400 billion a year. we could do better than that, we can think better than that. and the president needs to lay that out for us. >> even if we get more growth, we're still finding it difficult to get unemployment down. elaine cho served as george w. bush's secretary of labor. what would you do to create more jobs in america? >> i think you have to keep the tax rate low, they're a direct burden on the resources of the employer. th
sales tax, correct? >> well, it's not quite. progressive is important to me, i don't want people to pay taxes if they have $20,000 a year worth of income. but at 30,000, i might like for people to pay $1. just $1. so they have a legitimate claim for saying, i'm part of the society, and i don't pay a lot, but i do pay something. everybody participates, and there's no game playing, it's a very efficient way to raise revenue. right now, it costs us $431 billion a year to administer the tax...
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Jan 18, 2013
01/13
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WJZ
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that's as all americans adjust to smaller paychecks due to higher taxes. >> the hit to incomes are going to be a first quarter event for the most part, so much of that effect will be felt in the first quarter and it gradually dissipate in our view as the year wears on. >> reporter: so, what will it take for the economy to return to much stronger footing. many say the answer lies with the housing market, which needs to built a stronger foundation. that brings us back to lenane and one of her listings. it's a five bedroom condo with river views. it can be yours for $4.75 million. >> to be able to get 3,100 square feet in manhattan is a real rarity, especially the bedroom count because people are really having families and staying in the city. and, this apartment really speaks to that. so that's why we've had such great traffic. >> reporter: traffic maybe, but will it sell? perhaps if the economy continues to show fresh signs of life. suzanne pratt, "n.b.r.," new york. >> tom: disappointing. that describes the last quarterly financial performances from two of the country's biggest banks, ba
that's as all americans adjust to smaller paychecks due to higher taxes. >> the hit to incomes are going to be a first quarter event for the most part, so much of that effect will be felt in the first quarter and it gradually dissipate in our view as the year wears on. >> reporter: so, what will it take for the economy to return to much stronger footing. many say the answer lies with the housing market, which needs to built a stronger foundation. that brings us back to lenane and...
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Jan 14, 2013
01/13
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under new rules, foreigners buying property will have to pay a new tax and there is a tax on those who speculation on industrial properties. seng wun, some people are pointing to what is happening with japan as inciting more capital inflows into places like singapore. do you expect more measures in response? >> i think the policymakers here in singapore, we have seen the hong kong government trying to attempt with limited success to hold on property prices here. we have seen inflows. if you look at the last few weeks, we are very strong close into the equity market and given that this region is still set to be likely to lead growth in the coming over 12 months or so itself, that's likely a gain to bring more money. unless, of course, we see a strong turn around in growth in europe and the u.s., but from the medium term itself, when you've got growth and you've got employment opportunity, you've got income growth and environment of very low interest rate is headache to policymaker in which i think the government here continue to have to fine tunemakers every now and then essentially bec
under new rules, foreigners buying property will have to pay a new tax and there is a tax on those who speculation on industrial properties. seng wun, some people are pointing to what is happening with japan as inciting more capital inflows into places like singapore. do you expect more measures in response? >> i think the policymakers here in singapore, we have seen the hong kong government trying to attempt with limited success to hold on property prices here. we have seen inflows. if...
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Jan 14, 2013
01/13
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b, they pay their back taxes. and c, they pay a small penalty for having broken the law in the first place. >> but let me push you on that because if you don't provide a path to citizenship -- >> i don't think you have to say that they can become citizens. this -- that part of my four-point program's going to be a attacked voluntary sis rously by people on the republican side. but it's not amnesty. they have a path to citizenship. they do the way every other immigrant does to become an american citizen. >> what would you say to the republicans who will say, look, they should be deported? >> yes. >> they should never have a path -- >> and you think what you say to them, look what your position got us in this last election. we need to pay attention to demographics. okay? i said we need to be the party of hope and opportunity. not the party of anger and resentment. >> illegal immigration is just one problem with our current system says michael bloomberg, the mayor of new york city and one of america's most successful
b, they pay their back taxes. and c, they pay a small penalty for having broken the law in the first place. >> but let me push you on that because if you don't provide a path to citizenship -- >> i don't think you have to say that they can become citizens. this -- that part of my four-point program's going to be a attacked voluntary sis rously by people on the republican side. but it's not amnesty. they have a path to citizenship. they do the way every other immigrant does to become...
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Jan 17, 2013
01/13
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voters ainvolved the tax measure in november. some of the prop 30 revenues earmarked for higher education, but now the csu and uc boards could still raise student fees. >>> a new national study suggests the more money parents contribute to their kids' college education, the lower their grades will be. uc sociology professor laura hamilton told the "new york times" the effect is modest, not big enough to make students fail out of college, but it's surprising because parents assume the more money they give, the better their child will perform in school. >> let the kids work! >>> latest census shows a shift in california's population. latin immigrants no longer make up the majority of the state's immigrant population. instead, it's immigrants from asia. 42% of immigrants coming to the state were from latin america, 37 from asia. a decade later, 57% from asia, more than two times the 22% that come from latin america. >>> well, it's green and a bit extreme. a new garbage collection program may be in store for palo alto, with fewer bin
voters ainvolved the tax measure in november. some of the prop 30 revenues earmarked for higher education, but now the csu and uc boards could still raise student fees. >>> a new national study suggests the more money parents contribute to their kids' college education, the lower their grades will be. uc sociology professor laura hamilton told the "new york times" the effect is modest, not big enough to make students fail out of college, but it's surprising because parents...
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Jan 20, 2013
01/13
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tax code. >> i do. >> why? >> because it's inefficient, it's ineffective, and its fundamentally unfair. so i believe this -- revenue systems should be used to raise money. it shouldn't be organized to distribute benefits. >> so no tax deductions. >> no deductions, no credits, no nothing. it's to raise revenue. and ideally we should do it with a progressive value-added tax. that means -- >> that's a national sales tax, correct? >> well, it's not quite because progressive is important to me. i don't want people to pay taxes if they have $20,000 a year worth of income, but at $30,000, i'd like people to pay 1 dollar, just $1.00 so they have a legitimate claim for saying i'm part of the society and i don't pay a lot but i pay something. everybody participates. there's no game playing. it's a very efficient way to pay taxes. right now it costs over $31 million a year to administer it. the tax gap that we theoretically owe is $41 billion a year. we can do better than that. we can think better than that. and the presi
tax code. >> i do. >> why? >> because it's inefficient, it's ineffective, and its fundamentally unfair. so i believe this -- revenue systems should be used to raise money. it shouldn't be organized to distribute benefits. >> so no tax deductions. >> no deductions, no credits, no nothing. it's to raise revenue. and ideally we should do it with a progressive value-added tax. that means -- >> that's a national sales tax, correct? >> well, it's not quite...
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Jan 15, 2013
01/13
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why would we spend tax dollars on a one-man star ship. reason magazine says this could mark the end of -- >> i think a lot of things end political discourse. the whole petition thing was silly. everyone knew people would use it to create stupid petitions and have the white house respond. all fans should get the infomercial guy with the question marks to be the next secretary of the treasury. get him in the treasury department. get him in there. >> it is a great idea. you act like you have never heard a great idea on red eye of the. >> that's not true. this place is full of good ideas. >> obama promised to answer any petition that gets 2ive foo,000 signatures. do you think huey is regretting that pledge? >> or somebody does it for him. >> doesn't he do his own tweets? >> it could be possible other people help. i know it is shocking. >> keith, if this death star thing ran on clean energy instead of coal or whatever the death star runs on, do you think it might have gotten more support from the white house? >> that's a great idea. >> name an
why would we spend tax dollars on a one-man star ship. reason magazine says this could mark the end of -- >> i think a lot of things end political discourse. the whole petition thing was silly. everyone knew people would use it to create stupid petitions and have the white house respond. all fans should get the infomercial guy with the question marks to be the next secretary of the treasury. get him in the treasury department. get him in there. >> it is a great idea. you act like...
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Jan 14, 2013
01/13
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tax bite. >> tax bite all day on cnbc a special series that we're calling a tax bite. where did your money go? earlier this morning we talked to piper jaffray retail analyst about the impact of the higher payroll tax. >> what we get most concerned about would be at the lower income end of the spectrum where consumers live on more of a month-to-month budget. that's just less money for a lot of retailers that would cater to that income demographic. >> you're looking at retailers -- >> that would be the dollar stores. specifically like family dollar, dollar general, or dollar tree. >> joining us now howard levine, chairman and ceo of family dollar stores. you're sensitive to this type of stuff, howard. thanks for coming on today. in past periods like this, is there a pretty clear-cut cause and effect that we will see if people, if your customers get $15 less per week, that $15 cannot make its way into family dollar's coffers, can it? >> sure, joe. and good morning, everybody. thanks for having me this morning. you know, when i think about some of the current news, i've be
tax bite. >> tax bite all day on cnbc a special series that we're calling a tax bite. where did your money go? earlier this morning we talked to piper jaffray retail analyst about the impact of the higher payroll tax. >> what we get most concerned about would be at the lower income end of the spectrum where consumers live on more of a month-to-month budget. that's just less money for a lot of retailers that would cater to that income demographic. >> you're looking at retailers...
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Jan 15, 2013
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minds that any more fiscal policy, you potential le get a slowing of demand and the example here is the tax increases that were agreed which involved a reduction of the payroll -- sorry, a reverse of the payroll tax reductions. people now saying, well, actually, that reduces take home pay. so perhaps this congress also looks at the potential economic implications of spending cuts and it makes it easier to get on a compromise at this stage. >> evans is talking about 2.5% this year, 3% next year. are those achievable targets? are they too optimistic? >> no. that seems about right. the same order of numbers in the federal reserve, central tendency, as well, for this year and next year prosecute we are seeing some momentum in the u.s. economy, most notably in the housing market and we're getting more regular increases in nonfarm payrolls, as well. there is upward momentum there and that would be, we think, partly checked by tightening and fiscal policy, of course, provided that you get an agreement on spending reduction. >> you didn't stay in, but that's a pretty big if, still. we can read that
minds that any more fiscal policy, you potential le get a slowing of demand and the example here is the tax increases that were agreed which involved a reduction of the payroll -- sorry, a reverse of the payroll tax reductions. people now saying, well, actually, that reduces take home pay. so perhaps this congress also looks at the potential economic implications of spending cuts and it makes it easier to get on a compromise at this stage. >> evans is talking about 2.5% this year, 3% next...
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attacked by six men in an ordeal lasting several hours the victims were dumped by the side of a road you tax part of nationwide protest over widespread violence against women in india. a taliban raid on the cabal traffic police headquarters has left three police officers and at least five terrorists dead the battle between insurgents and security forces lasted over nine hours it's the second raid in the afghan capital in the past week and comes amid attempts by the u.s. and afghan governments to try and engage taliban in peace talks. venezuela's charismatic leader hugo chavez will soon return to rule his country says bice president nicolas maduro according to mature over the president is recovering well and gaining strength following a severe a spirit dream faction after cancer surgery last few burnell of the long serving leader has yet to be sworn in for his the as his inauguration date was disposed indefinitely key to his extensive health problems. good times at goldman sachs stuff the investment giants are reported to be getting a significant salary boost but a lot of that money has been
attacked by six men in an ordeal lasting several hours the victims were dumped by the side of a road you tax part of nationwide protest over widespread violence against women in india. a taliban raid on the cabal traffic police headquarters has left three police officers and at least five terrorists dead the battle between insurgents and security forces lasted over nine hours it's the second raid in the afghan capital in the past week and comes amid attempts by the u.s. and afghan governments...
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unemployment has been stubbornly high during the past four years bloomberg reported that corporate after tax profits are up one hundred seventy one percent that brings me to wall street whose actions contributed to the biggest financial crisis of our era the comprehensive dog reform bill was passed in two thousand and ten but only one third of those rules that were outlawed have actually been written since the financial crisis five banks now control fifty six percent of the u.s. economy according to the federal reserve five years ago that number was just forty three percent too big to fail has perhaps gotten much bigger and perhaps most egregious of all none of the executives who caused the financial crisis have been held accountable for their individual actions with criminal charges finally health care the affordable care act was ruled constitutional by the u.s. supreme court over the summer it was a huge victory for president obama and the democrats though it has yet to be fully implemented and faces roadblocks on the state level clearly it's been. mixed bag for president obama during his
unemployment has been stubbornly high during the past four years bloomberg reported that corporate after tax profits are up one hundred seventy one percent that brings me to wall street whose actions contributed to the biggest financial crisis of our era the comprehensive dog reform bill was passed in two thousand and ten but only one third of those rules that were outlawed have actually been written since the financial crisis five banks now control fifty six percent of the u.s. economy...
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Jan 13, 2013
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host: another view is that the tax on senator hagel are really a tax on president obama. john is joining us on the democrats' line from pennsylvania. are you with us? caller: i certainly am. my town is located outside of philadelphia. [indiscernible] it is close to philadelphia. thank you for permitting me to speak. thanks for c-span. this issue is fraught with a lot of anxiety. it is an explosive issue. this is bringing the lobby from behind the curtain. mr. clemons is a good spokesman for senator hagel's side. if he says the wrong thing, he could lose his position in the community. it is astonishing to me that people have been so wrong from day one. the people have been wrong. iraq is a disaster with trillions of dollars. afghanistan is a disaster. we do not know what is going on. in syria, the christians are terrified. chuck hagel is reasonable. what did he say that has so destructive -- disrupted it all? he said the jewish lobby intimidate people. to people knowledgeable and aware, this is not an issue. host: this is someone from the republican line. this is slowly an
host: another view is that the tax on senator hagel are really a tax on president obama. john is joining us on the democrats' line from pennsylvania. are you with us? caller: i certainly am. my town is located outside of philadelphia. [indiscernible] it is close to philadelphia. thank you for permitting me to speak. thanks for c-span. this issue is fraught with a lot of anxiety. it is an explosive issue. this is bringing the lobby from behind the curtain. mr. clemons is a good spokesman for...
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Jan 20, 2013
01/13
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i wasn't separating out about the specifics of entitlement reform and tax reform from the larger issue of how to bring the middle class back, because they are all tied together, david. you can't have one without the other. >> i understand. but the republican thinking in congress has been that the cuts are enough. and that is not the answer. >> no, no, i couldn't agree more. if you take just education and job creation, for example, there is going to be a sea change in american education, which is already underway. go long on community colleges. >> yes. >> developing a skill set. >> yes. we need to support that. and we need to support that, but i need to challenge one thing -- >> medicaid and medicare together. medicare and medicaid together. within 10 years, it devours every cent. >> there's a progressive argument for dealing with that issue. >> which is what? when are we going to hear it? >> well, i want to challenge you and you as well, david, on this point. >> challenge the president, david. >> no, you and you. the premise that the president has not been venturesome in this area, has
i wasn't separating out about the specifics of entitlement reform and tax reform from the larger issue of how to bring the middle class back, because they are all tied together, david. you can't have one without the other. >> i understand. but the republican thinking in congress has been that the cuts are enough. and that is not the answer. >> no, no, i couldn't agree more. if you take just education and job creation, for example, there is going to be a sea change in american...
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Jan 13, 2013
01/13
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to they engage supports of a tax of western targets? it is important it defines the relationship with the outside and the attack on civilians. he was never implicated in the global attack that distinguishes him crumb past militants that were. those that took place from barcelona spain and when you did have a local pakistan a militant looking to attack with the teetwo style format. but to my knowledge there were not implicated but it is total speculation. but someone who had told relationship with the high connie network as they discussed relations in 2008 is if the militants engaged the terrorist styled attacks in the heart of kabul. that is the questions the way people thought about these organizations. says the group take operational direction? especially as researchers said don't have the network and access that anand gopal has but be careful with what they say with the taliban and also teetwo. with the insurgent network to create power out of little on the ground force you have to create a myth of yourself with political power with
to they engage supports of a tax of western targets? it is important it defines the relationship with the outside and the attack on civilians. he was never implicated in the global attack that distinguishes him crumb past militants that were. those that took place from barcelona spain and when you did have a local pakistan a militant looking to attack with the teetwo style format. but to my knowledge there were not implicated but it is total speculation. but someone who had told relationship...
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Jan 21, 2013
01/13
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because in our budget that we will pass, we will lift tax reform, which many of my republican colleagues liked, but it will include revenues. it's a great opportunity to get us more revenues to help in part deal with sequestration and deal with the issue of -- >> but senator schumer, the reality is the president is willing to throw the long ball on this big sunday of football, when it comes to gun control. and yet because of his view of republican recalcitrants, he doesn't step up and show real leadership and be proactive on a big spending cut proposal and medicare put proposal because he doesn't want to go there. why throw the long ball when it comes to gun control but not take a leadership role when it comes to spending cuts? >> well, he is. in the negotiations up to the fiscal cliff, the president put things on the table. $400 billion in medicare cuts. he was talking about change cpi, which -- >> you're talking about more revenue. that's not big enough on medicare cuts according to simpson-bowles and others. >> we have already done $1.7 trillion in cuts. we've done $600 billion in rev
because in our budget that we will pass, we will lift tax reform, which many of my republican colleagues liked, but it will include revenues. it's a great opportunity to get us more revenues to help in part deal with sequestration and deal with the issue of -- >> but senator schumer, the reality is the president is willing to throw the long ball on this big sunday of football, when it comes to gun control. and yet because of his view of republican recalcitrants, he doesn't step up and...
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Jan 16, 2013
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the united states local officials it is tax base. without taxes there is no services. you may hate taxes and never want to pay taxes, but the bottom line is for governments of the united states, local and state governments without tax revenue you cease to provide essential services. develop the tools that give them up to look at the resiliency of their tax base hit and their exposures. understand after a disaster it is easier to make began airing changes, but in small incremental changes how you look at the changes -- decisions you're making to say that if something happens our tax base is resilient enough that we can survive it or we are so exposed in this if it happens we need to understand what the consequences me. and so the issue about rebuilding affordable housing, well, maybe it's not a good idea to rebuild it where they're most vulnerable, but you cannot sell them out of your community. this is one of the things we have seen, what i call the neglect where local officials have area of poverty. they go, that is actually pretty good land. if we can yet those folks
the united states local officials it is tax base. without taxes there is no services. you may hate taxes and never want to pay taxes, but the bottom line is for governments of the united states, local and state governments without tax revenue you cease to provide essential services. develop the tools that give them up to look at the resiliency of their tax base hit and their exposures. understand after a disaster it is easier to make began airing changes, but in small incremental changes how...
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Jan 15, 2013
01/13
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than permanent tax cuts. so i think part of it will come out of savings, because people will have saved up, as it were, to prepare themselves for this. but not all of it. we are going to have slower consumer spending, i think, in the first half of the year. my point is, it's not going to be the consumer that's going to be driving things. and we are probably going to have a little bit of a pickup in hiring. we think payroll is going to be 175,000 a month. we had an encouraging pickup in wage increases in the december payroll data. that's not a blip. that's the beginning of a new trend. you are going to see better income numbers. i think when you get that december personal income number that's going to look fairly decent number on the wage side giving consumers some cushion to pay those higher payroll taxes. >> and if we should have a decline in inflation or oil prices or gas prices, that will help, as well. but, john, the question becomes, was what happened on the late in the evening on what was it, december 3
than permanent tax cuts. so i think part of it will come out of savings, because people will have saved up, as it were, to prepare themselves for this. but not all of it. we are going to have slower consumer spending, i think, in the first half of the year. my point is, it's not going to be the consumer that's going to be driving things. and we are probably going to have a little bit of a pickup in hiring. we think payroll is going to be 175,000 a month. we had an encouraging pickup in wage...
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Jan 16, 2013
01/13
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another year where we don't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it is for stock returns. >> maria, can i jump in here for a moment. >> i think, rick, got to stop looking at the glass being half empty. it will be a weak fourth quarter but that's mostly because of weak exports and inventories. the u.s. consumer doing pretty well. >> what about all the activity we pulled from the first quarter based on the fiscal cliff you? think the first quarter is really going to be that much better? >> look at the information we have now. a pry pry try survey done by isi of home builders and said january will be a blockbuster month for home building, and let me bring up two other points that don't get mentioned here. the mortgage foreclosure settlement and a couple other things on the regulatory front, the liquidity ratios being eased up, a very good environment for lending, very solid for housing. i can see a lot more reasons to be positive than negative right now. >> if intere
another year where we don't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it is for stock returns. >> maria, can i jump in here for a moment. >> i think, rick, got to stop looking at the glass being half empty. it will be a weak fourth quarter but that's mostly because of weak exports and inventories. the u.s. consumer doing pretty well. >> what about all the...
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Jan 15, 2013
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the wealthy see charity and taxes two sides of the same coin. taxes go up, charity must go down. press secretary for george bush summed it up in a recent tweet saying, quote, i and many others will likely donate less in 2013. but a new study from the nonpartisan tech center says charitable giving may actually increase this year by $3.3 billion. tax hikes are actually the main reason why. here's how it works. taxpayers deduct their charity at their marginal tax rate. last year the wealthy could deduct 35 cents for every dollar they gave. the current rate is 39.6%. so they can deduct 39.6 cents for every dollar they give. their cost of giving has, in other words, fallen by 7% for those making $400,000 or more per year. the same is true if you're giving away stock or real estate that's appreciated in value. the higher capital gains rate making giving more economically attractive. the cliff deal does limit certain deductions. but the benefits of these higher tax rates more than makes up that limit on deductions. so net-net, the wealthy get a bigger tax cut this year for giving. it's
the wealthy see charity and taxes two sides of the same coin. taxes go up, charity must go down. press secretary for george bush summed it up in a recent tweet saying, quote, i and many others will likely donate less in 2013. but a new study from the nonpartisan tech center says charitable giving may actually increase this year by $3.3 billion. tax hikes are actually the main reason why. here's how it works. taxpayers deduct their charity at their marginal tax rate. last year the wealthy could...
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Jan 14, 2013
01/13
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the president said he wouldn't raise taxes on everybody. he did raise taxes on everybody. he still has the moral high ground. it's about spending. which is just future taxes. how can that pledge be changed? you're not going to be able to combat the debt ceiling with a static pledge. >> okay. well the good news is, that moving forward we're going to have a four-year struggle against the president's overspending. and we have three days, three battles that we know the day of. march 2nd is when the sequester begins. watch the president try and weasel out of the sequester, that it was his idea, and he agreed to it -- >> doesn't matter whose idea it is. how are you going to get on the offense? see i'm with you. i'm a fiscal conservative. but you're on your back feet. >> no, no. the sequester takes place automatically unless something else happens, saving $1.2 trillion. debt ceiling which comes up around march 14th, fuzzy day but roughly march 14th, there the republicans have said for two years now, because the president's busting the budget with all his spending he's going to ha
the president said he wouldn't raise taxes on everybody. he did raise taxes on everybody. he still has the moral high ground. it's about spending. which is just future taxes. how can that pledge be changed? you're not going to be able to combat the debt ceiling with a static pledge. >> okay. well the good news is, that moving forward we're going to have a four-year struggle against the president's overspending. and we have three days, three battles that we know the day of. march 2nd is...
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Jan 18, 2013
01/13
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tax revenue, and to fight tax evasion. i forgot to mention the privatization program, which is also necessary. >> gentleman here in the third row. >> thank you. what is your insight on the chinese economy in terms of opportunities and challenges? what goals are on top of your agenda that you want to achieve in the new year it? thank you. >> global growth is not just the top of my agenda, it is on the top of the agenda of anyone who cares about the economy and jobs. growth is a very conducive factor. turning to china, i would certainly observe that there is continued significant and substantial growth expected out of china. i would observe there has been a rebalancing within the china economy with a focused on consumption rather than exports. i would observe that the currency of china has adjusted. my hope is that these trends we have observed continue into 2013 s and the new chinese leadership. >> thank you. >> how do you see the impact of what is happening in the arab countries on the economy is in the arab world? do you
tax revenue, and to fight tax evasion. i forgot to mention the privatization program, which is also necessary. >> gentleman here in the third row. >> thank you. what is your insight on the chinese economy in terms of opportunities and challenges? what goals are on top of your agenda that you want to achieve in the new year it? thank you. >> global growth is not just the top of my agenda, it is on the top of the agenda of anyone who cares about the economy and jobs. growth is a...
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Jan 16, 2013
01/13
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you need tax reform, in my view, corporate pad taxes are too high in the competitive world we're in. get those issues in front of them and then deal with the spending issues, which primarily are in medicare-medicaid and some of the other domestic -- >> how should people feel when they read this john boehner interview where he said the president said, we don't have a spending problem. how should people feel about that? >> if he said that, there's no way to agree with that. look, we're spending 24 percent of gdp and we're taking in 16%. we've got a spending problem. part of the spending problem is the recession that we've been in. the thing you've got to remember all of this has to be designed to get strong economic growth. the goal is not to cut spending or deal with the deficit. those are vehicles to get to the main goal getting the economy to grow at a faster rate. >> it is possible for someone to look at what he thinks government should provide for its citizens and it is possible to believe that 25% of gdp should be spent on government services. it is possible that he believes that
you need tax reform, in my view, corporate pad taxes are too high in the competitive world we're in. get those issues in front of them and then deal with the spending issues, which primarily are in medicare-medicaid and some of the other domestic -- >> how should people feel when they read this john boehner interview where he said the president said, we don't have a spending problem. how should people feel about that? >> if he said that, there's no way to agree with that. look,...
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Jan 21, 2013
01/13
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should government tax harder or should spending be cut harder? not only is there no agreement, but the democrats now are saying, listen, forget the debt ceiling. let's get rid of that silly little thing. but do we actually need a budget? >> so we're learning that we may finally get a budget for the first time in what, three years? significant, though, because these are just templates. >> i great, they are templates. but letting go at a time when the debt is compounding is worrying. however, having said that, you can get worried about that as a market participant, but as long as the federal reserve has open ended quantitative easing, nothing is going to happen from the long end. >> from a market point of view, we were talking about allen capper about this last hour. but from a market point of view, the best outcome is something that lowers the long-term debt outcome. but we keep get ago worsening of the long-term debt profile and a hit to the near term. that is a mix that markets understandably don't like. >> and as long as the fed is funding the
should government tax harder or should spending be cut harder? not only is there no agreement, but the democrats now are saying, listen, forget the debt ceiling. let's get rid of that silly little thing. but do we actually need a budget? >> so we're learning that we may finally get a budget for the first time in what, three years? significant, though, because these are just templates. >> i great, they are templates. but letting go at a time when the debt is compounding is worrying....
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Jan 17, 2013
01/13
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lori: one tax stock or company helping you file your tax returns is hitting a 52-week high. is there more upside the head? melissa: and retirement age racing. they plan to increase the retirement age to 70. a look at metals as we head out to break. gold trading higher by half a percentage point. copper leading the way from a percentage point of view. we will be right back. melissa: as with every 15 minutes, let's check the market. nicole is watching. nicole: i am, indeed. this is a name that has headlines and number one performer in the s&p 500 today. stellar performance, up 9.5%. there is quite a bit going on with cbs. they're turning their north and south american outdoor advertising divisions, putting some billboard divisions up for sale. one analyst says a split could unload asset values between 5,000,000,006,000,000,000. here is a one-year chart that shows you how well they set up for the one-year period the tenure charge shows how we went through the crisis. recouped all those losses and still better than it was prior to that. however back in 2000, '99, 2000, but it da
lori: one tax stock or company helping you file your tax returns is hitting a 52-week high. is there more upside the head? melissa: and retirement age racing. they plan to increase the retirement age to 70. a look at metals as we head out to break. gold trading higher by half a percentage point. copper leading the way from a percentage point of view. we will be right back. melissa: as with every 15 minutes, let's check the market. nicole is watching. nicole: i am, indeed. this is a name that...
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Jan 16, 2013
01/13
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this despite talk of delaying the property tax reform due to insufficient planning and law making. >>> in hong kong all eyes on the chief executive's maiden policy speech with a focus on measures to tackle the housing crisis. developers reversed earlier losses to finish in the green, but telecos and energy majors dragged the market lower, ending down by a minor .1%. elsewhere, south korea's kospi finished marginally in the red. apple suppliers continued to weigh down the market over demand concerns on the iphone 5. the australian market bucked the down trend with the defense of telecos and health care stocks lending support. the sensex in action trading down by .5%. back to you. >> all right. thanks for that. we'll take a break. >>> still will to come, hong kong selling out new plans to show up housing woes. >>> okay, let's bring you up to speed with stories. hong kong's chief executive has delivered his first policy speech outlining measures to cool property prices, reduce pollution, and improve welfare. he said it's necessary to curb speculative activities in the real estate sector
this despite talk of delaying the property tax reform due to insufficient planning and law making. >>> in hong kong all eyes on the chief executive's maiden policy speech with a focus on measures to tackle the housing crisis. developers reversed earlier losses to finish in the green, but telecos and energy majors dragged the market lower, ending down by a minor .1%. elsewhere, south korea's kospi finished marginally in the red. apple suppliers continued to weigh down the market over...
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Jan 13, 2013
01/13
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other islamist terrorist, they can't be the west by blowing us up but they will have two use use the taxes that the soviets use against us in 1930s and 40s. in fact as you go on the msha and i would challenge you that, google with the left said about challenges to the infiltration of islamic terrorism into america. what what you find his is ridiculed. you will recall when several members of congress raised the issue of hillary clinton's top aides mullah of the dean having islamic connections and that in fact told me that you cannot even get the question of infiltration by islamic7 terrorism into american institutions passed and we are basically saying yes in the time of alger hiss. comments? >> anti-communism was considered rude, prudish, disrespect double and facts members of the rotary for example would raise that point. national view -- -- national review was anti-communist. >> there were differences i would say and one is that the case was made during the 1930s and 1940s certainly that communism was good for america and we have this wonderful ally in uncle joe stalin. you can't make t
other islamist terrorist, they can't be the west by blowing us up but they will have two use use the taxes that the soviets use against us in 1930s and 40s. in fact as you go on the msha and i would challenge you that, google with the left said about challenges to the infiltration of islamic terrorism into america. what what you find his is ridiculed. you will recall when several members of congress raised the issue of hillary clinton's top aides mullah of the dean having islamic connections...
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Jan 17, 2013
01/13
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with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us, if we went over, if we went over for a day it's one thing, if we went over and stayed for a week, do they look at it just because washington can't get along, that's reason enough for another do
with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there...